[fundingsmbs]

^ and the chances of a second wave are very real by fall/winter. this is why every major fintech is racing to push as many PPP's as possible to make 1-5% revenue as much as they can. these fintechs also offer other products services so the customer grab will benefit them and back to point of not becoming a singular focused service provider. each iso has a database of customers. figure out how to expand your wallet size outside mca right now and when things get better, you can monetize it again

[J.Celifarco]

And if waiting around until it's safe to open again isn't until the end of 2021 (when they assume the vaccine will be ready, at the earliest), can you expect everyone to just sit and relax at home without rioting to get out of the house and go to public places?

I dont think they should wait around till next year that is crazy but when they do decide to open it needs to be with a clear understanding of where they are located and the mentality of their customers. Opening for the sake of opening and doing no business will hurt more than help. All I am saying is an extra couple of weeks now then opening and being busy is better than opening now and having no customers

Think about a restaurant, they buy food expecting to do business when they open and use whatever extra cash they have to buy it. They open, do no business, food doesnt get sold. By the time people are comfortable and ready to go out in a week or 2 they dont have the money they need to buy more food. Yes I am looking at the worst case scenario but this will happen on some level to any business that opens before their customers are ready to go back to normal spending and behavior

[abfunders]

The challenge with a vaccine: There is no Covid vaccine on the market. The current strain could mutate next year. There have been other variations of this virus. If they can develop one and stay onto of the virus changes....I will be taking it>

Funny. As you were posting this, I was on the phone with a client who was looking for a real estate loan who happens to a family doctor and an army reservist. I asked him about the mutations, here's what came out:

1) His sources (he was talking in context of the army reserves) have documented that it leaked from a Chinese lab, it did not transfer from a bat. That's the main reason why China didn't talk about it for the first 3 weeks, they didn't want anyone there doing research about it. (I'm reporting, I'm not pushing.)
2) It mutated a little bit immediately once it got from China to the US, and they were expecting a lot more since then. It suddenly stopped mutating. Mutation for next year is a complete unknown.
3) If mutations stopped, a lot more people have likely been exposed to it than we realize, in which case we might already have achieved herd immunity.
4) Vaccines work (duh) and will make further immunity

So, basically, we just have to wait it out. It could be that next year we have no more problems, maybe not.

[GoodCustomerService]

Do you write off category 3 as bad debt today? Do you wait 3-4 months to see if they went BK or are still open?

I wouldn't write it off yet. Way too premature.

[golf2014]

Plus if you re open it can shut down...mca is out

[inacio]

Um, may I ask, why would a vaccine NOT change the narrative?
I'm one of the biggest pro-vaccine people out there, let's not get into the reason why the pseudo-science of anti-vaccines are so stupid, but a vaccine certainly helps even if some isolated idiots don't take them and don't trust anyone.
But that is my question - why would it NOT change the narrative?

Prove my point I'm one of the biggest pro-vaccine people out there Ah name calling.
Stupid is as stupid does.Its going to be fine without the Coron Vaccines, we shall wait and see, it wont be long my friend. Don't let emotions run to high

[inacio]

Its seem since Vice President pence announced that the Federal Government would pay hospitals for any Covid19 related illnesses or deaths the WHO CODE U07.2 was used on patients and deaths pretty generously by hospitals bypassing insurance company and getting funded emediatly from the Fed Gvt.
Emergency use ICD codes for COVID-19 disease outbreak
An emergency ICD-10 code of ‘U07.2 COVID-19, virus not identified’ is assigned to a clinical or epidemiological diagnosis of COVID-19 where laboratory confirmation is inconclusive or not available.
Both U07.1 and U07.2 may be used for mortality coding as cause of death. See the International guidelines for certification and classification (coding) of COVID-19 as cause of death following the link below.
Could the Corona numbers turnout to be a big scandal? Hell i don't know, but its worth to be investigated.

https://www.who.int/classifications/icd/covid19/en/

[SFC]

You’ll know the industry is back when Marcus starts trolling DF again.

Didn't his boss take away his account on his last post?

[NoBiggie]

Didn't his boss take away his account on his last post?

He might've thrown it in to his severance package

[Chambo]

I am asking this to the seasoned more advance people here.

Sales will not be were they were some some time, 6-12 months maybe?
Now, I am speaking to the industry i am in which is any retail store front shop.
DISCLAIMER sadly.
Retail store front shops.
Yes Iv'e been told many times seek a different industry

My credit card processing volumes in California is down by 35% and i'm sure cash is way down.

With that in mind.

With an MCA loan of $25k
Total payback $33,750
Term 8 Month's
Daily payments $192
Monthly $4,218

I just don't see it in the near future.

Yes other industries, Yes. I just don't see a sttruggling merchant paying those payments.

Your opinion?

CC deals and % f Deposit deals (like LG Funding does) will be the new norm, as who the heck knows what will be going on with businesses this summer? You sure as **** cannot rely on payback months for the next twelve months or so

[fundingsmbs]

CC split deals would be a major swing in the opposite direction of where this industry moved to, which, was fixed daily or weekly's. investors liked the absolute of repayment terms after prev years had shown that the cc split (variable) had become too uncertain. many of the first pos funders today have bank charters and investors who are only doing daily/weekly repayments and do not have a waterfall of cc processors onboard to even begin to offer that or desire to. many merchants gamed the system when cc splits were the norm by setting up addtl pos systems or a cash only sign in their business. would be hard to see that come back full force. anything is possible but ultimately, the money source would have to buy into that model. also, legally, the contracts for loans vs mca's is much more challenging for a merchant to get out of the debt. if you go back to mca vs loans, the variable and slowdown of repayment is allowed if sales slowdown, which, is how the business was designed in the beginning.

[Yankeeman07]

I dont think they should wait around till next year that is crazy but when they do decide to open it needs to be with a clear understanding of where they are located and the mentality of their customers. Opening for the sake of opening and doing no business will hurt more than help. All I am saying is an extra couple of weeks now then opening and being busy is better than opening now and having no customers

Think about a restaurant, they buy food expecting to do business when they open and use whatever extra cash they have to buy it. They open, do no business, food doesnt get sold. By the time people are comfortable and ready to go out in a week or 2 they dont have the money they need to buy more food. Yes I am looking at the worst case scenario but this will happen on some level to any business that opens before their customers are ready to go back to normal spending and behavior

Ok, Name the Exact Date you want businesses to re-open? How does a business guess into the future and KNOW when his customers will return if the doors are closed? Which came 1st - the Chicken or the Egg?

BTW, regarding money, many people are receiving more $$ between unemployment and the $600 that Uncle Sam (Taxpayers)
are gifting to them every week.

How long do you want to give gifts to people NOT working and contributing to the Economic Health of the USA

[fundingsmbs]

"How long do you want to give gifts to people NOT working and contributing to the Economic Health of the USA"- its much more complex than that. you have 26M+ people who lost their jobs or were forced to stay at home because of other factors (schools closed etc). This isn't a gift. The crisis forced everyone to stop everything. the PPP we all know was somewhat of a sham first round. did billion $ companies really need it? Also, companies who fired folks are not racing to hire them back even with an 8 week float PPP program. It is yet to be seen if these PPP will really rebound the unemployment to a level that is acceptable. When the dust settles, we will know how effective it was to put people back to work. Way to many uncertainties for the gov to cutoff floating anyone at this point.